Rainbow Robots, a robots firm based in South Korea, announced in a regulatory filing on Tuesday that Samsung Electronics had become its largest stakeholder, opening a new tab.
According to the filing, Samsung, which had previously invested in the robotics company, recently acquired a 267 billion won ($181 million) share.
According to a second announcement from the tech giant, Samsung is also creating a Future Robotics Office as part of the acquisition, which will report directly to the CEO.
Before the transaction, Rainbow Robotics’ second-largest stakeholder was Samsung Electronics, which owned 14.71% of the firm, or roughly 2.85 million shares.
In the past, Oh Jun-ho, the founder of the company, and related companies held the majority stake.
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